All applications for the grant or renewal of a prospecting licence under the Geothermal Energy Act, Cap. 197 (the Act) shall be made to the office of the Director of Geology, Mines and Rural Water Supply and shall be made for an area as specified in regulation 1. The Minister shall not grant a licence, the application for which has not first been made public as prescribed in regulation 2. The Minister shall, when deciding on an application, take into account any objections received, but may reject an application even if no objections were received. A prospecting licence shall be in the form set out in the Schedule and shall not be transferable except with the consent in writing of the Minister, who shall only grant such consent if he or she is satisfied as to the status of the new licensees as he or she would be for the grant of a new licence. The Minister may revoke the licence if prospecting has not begun within 3 months of the granting of the licence.